Condor Gold hails results from metallurgical test work at Nicaragua mine

Agnico-Eagle Mines (TSE:AEM) had suspended mining and gold production at its Goldex mine in Val d'Or, Quebec, due to unstable ground and water inflow. "A weak volcanic rock unit in the hanging wall of the Goldex deposit has failed. This rock failure is thought to extend between the top of the deposit and surface. As a result, this structure has allowed ground water to flow into the mine. This water flow has likely contributed to further weakening and movement of the rock mass," Agnico-Eagle said in a statement. As a result of the problem, Agnico said it will write off its investment in Goldex, resulting in a $260 million charge in the third quarter results. The news caused the Toronto-based company's shares to plummet around 19% near the close of trading on Wednesday.

Oilsands Quest was little changed at 24.5c on Tuesday after announcing it had entered into a 2-year $12 million securities purchase agreement with Socius Capital. Oilsands Quest says the financing ensures it's near-term liquidity while it attempts to sell off assets and advance its flagship Axe Lake pilot project. The deal throws a lifeline to the company under threat of delisting from AMEX after a $60 million rights offer flopped in September and a year-long quest to find a buyer or strategic partner came up empty handed. Investors in the firm have been on a bumpy ride. The stock is down some 70% from its January highs of 64c and gained 63% in a single day after Saskatchewan granted the company 15-year oil sands leases, the first in the province. But recent investors can feel smug about the fact that they did not buy into the junior during the frothy 2006 market – the counter hit a peak of $7.76 in March that year.

Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected three zones of strong potash mineralization in Hole DK-11-28 ("Hole 28"). Hole 28 is located in the northwestern portion of the concession block and was targeted to test potash mineralization west of Hole 15. Hole 28 intersected a strong Sylvinite Zone at a depth of 198.8 metres which yielded 40.27% KCl over 3.56 metres. A robust Kainitite Zone was also intersected deeper in the hole at a depth of 266.43 metres and returned 21.98 % KCl over 8.39 metres.

Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce that it has retained the services of Wardrop, A Tetra Tech Company ("Tetra Tech") and AMEC, two large multi-disciplinary engineering companies to complete the required studies for the development of its Broken Hammer deposit in Sudbury, Ontario. Tetra Tech will complete the Pre-Feasibility study ("PFS") and the subsequent Feasibility Study ("FS"). AMEC will complete the Environmental and permitting requirements. "The successful delivery of the bulk sample and its expected results have brought this project to the next phases of development namely Pre-Feasibility, Feasibility, and permitting."

Canadian resource companies have less optimism than they had during the summer, according to the Bank of Canada's Business Outlook Survey, which was released on Monday. "Responses to the autumn survey point to less optimism among firms than in the summer survey, as weaker expectations for U.S. growth and a more uncertain global outlook weigh on business sentiment. Indicators of future business activity, capacity constraints and price pressures have all moved down from the levels recorded in the previous survey," wrote the survey's authors. Miners and other resource firms expect commodity prices will rise less rapidly over the next 12 months.

IAMGOLD Corporation, which produces nearly one million ounces of gold each year, is looking is looking for projects capable of 150,000/oz of gold per year and has two million oz of reserves. The company made the announcement during a corporate presentation in October. Bloomberg reported that the company is looking for transactions in the range of $300 million to $500 million.

North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with Devlin's Bench Mining Ltd and P. Wright Contracting Ltd ("PWC") to enter into a joint-venture on North Bay's Fraser River Platinum Project in British Columbia. The Fraser River Platinum Property is located near Lytton in south-central British Columbia, Canada, and covers approximately 4.5 kilometers of placer claims along the Fraser River. The property includes the Van Winkle Bar, from which BC MINFLE 092ISW078 and BC Open File 1986-7 have documented historical assays of 5681 grams (182.67 ounces) per tonne platinum from black sand concentrate.

New Gold Inc. ("New Gold") (TSX:NGD)(NYSE Amex:NGD) and Silver Quest Resources Ltd. ("Silver Quest") (TSX VENTURE:SQI) today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share (the "Share Consideration") for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. ("McIntyre") for every three Silver Quest shares held (the "Spinco Consideration").

A former BC Premier was among those who witnessed a shocking and unusual protest earlier this week at a gathering of Canadian and European energy leaders. Gordon Campbell, who was recently named Canada's High Commissioner to the United Kingdom, was making his first official appearance in his new role when a man and woman suddenly stripped down to their undergarments and jumped onto the conference table. The Vancouver Sun describes what happened next: British poet Peter Bearder a.k.a Pete the Temp, clad in Union Jack boxers, and British/Australian UK Tar Sands Network campaigner Emily Coats, in white Maple-Leaf underwear, dumped molasses on themselves and then jumped onto a table in the gilded conference room to kiss and fondle each other for roughly a minute.